Changes in Hong Kong stocks | Domestic housing stocks fell collectively, housing companies' enthusiasm for land acquisition declined at the end of the year, and Lyon expects the overall housing price decline to narrow to 4% next year

The Zhitong Finance App learned that domestic housing stocks fell collectively. As of press release, China Overseas Hongyang Group (00081) fell 8.48% to HK$2.05; Greentown China (03900) fell 5% to HK$8.36; Xincheng Development (01030) fell 2.31% to HK$2.11; and Sunac China (01918) fell 1.55% to HK$1.27.

Guosheng Securities previously released a research report saying that in January-November, the TOP100 real estate companies acquired a total of 847.8 billion yuan, an increase of 14.1% over the previous year, and the increase was significantly narrower than in January-October. In the first half of this year, the land market in core areas of some core cities was relatively hot, and structural transactions led to an increase in the amount of land concessions in the national land market; however, with the achievement of inventory replenishment goals by leading housing enterprises and the further cooling of the new housing market in the second half of the year, housing companies' enthusiasm to acquire land declined at the end of the year.

Lyon also said that the weak willingness of developers to invest has become a major constraint on real estate. According to the data, in the first 10 months of 2025, the country's new construction area was only 491 million square meters, and commercial property development investment fell 14.7% year on year. Lyon believes that continued stability on the sales side is the key to rebuilding confidence in the industry. It is expected that the decline in new construction space will narrow in 2026, and that the year-on-year decline in commercial housing sales will be kept within 4% for the whole year.